Maserati Corporation purchased a new machine for its assembly process on August 1, 2014. The...
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Maserati Corporation purchased a new machine for its assembly process on August 1, 2014. The cost of this machine was $150,000. The company estimated that the machine would have a salvage value of $24,000 at the end of its service life. Its life is estimated at 5 years and its working hours are estimated at 21,000 hours. Year-end is December 31.
Instructions:
Compute the depreciation expense under the
following methods.
(a) Straight-line depreciation.
Sum-of-the-Years-Digits Method
Double-Declining Balance Method
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